Bitcoin information

Bitcoin is a digital currency that has millions of users around the world. In Finland there is around 40 000 Bitcoin users at the moment, and the number is rising continuously.

What is bitcoin?

Benefits of bitcoin

There are no middlemen such as banks or states in bitcoin, so the transactions are instant.

Therefore transaction fees are extremely low.

Bitcoin is also one of the best investments in near history, it has risen an average of ~10 000% a year in it’s 5 year journey.

FAQ

How do you see other digital currencies, such as litecoin, dogecoin, darkcoin etc?

There are dozens of competing digital currencies. At the moment we see them as no threat to bitcoin, because they don’t offer any significant improvements compared to bitcoin. Bitcoins market capitalization is around 90% of all cryptocurrencies.

How does it affect my accounting if I start to accept bitcoin payments?

There will be no changes in your accounting, because all the payments to your account will appear in euros.

Our company doesn’t want bitcoin to our account.

You can choose the percentages in euros and bitcoins. If you wish, we will exchange the whole payment to euros, when you don’t have to handle bitcoin at all.

Price of bitcoin is volatile

You don’t have to worry about the price volatility because you will be accounted only euros if you wish.

Bitcoin is so new thing, that our customers don’t want to pay with it.

In Finland there is over 40 000 bitcoin users and the number is rising continuously. Many bitcoin users would like to do their everyday purchases with bitcoin.

Bitcoin is a bubble.

The price of bitcoin is based on supply and demand. Meanwhile the price of bitcoin has risen 10 000%, also the user count has risen the same amount.

Bitcoin is used in criminal activity

Like every currency, also bitcoin has been used in criminal activity. The studies show us that criminal usage of bitcoin is on the same level as the criminal usage of dollar or euro or any other currency.

The governments don’t support bitcoin and it’s regulation is uncertain.

Many governments have taken a neutral stance against bitcoin. Bank of Finland has stated that there is no reason to limit usage of cryptocurrencies. Also some central banks and governmets have released a positive statement about bitcoin, Swedish Central Bank for example.